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V Foundation to direct all donations to cancer research

Updated: December 4, 2006, 7:16 PM ET
Associated Press

CARY, N.C. -- The V Foundation, honoring the late basketball coach Jim Valvano, will direct all donations in full toward cancer research.

The foundation has reached the point where it can cover operating expenses from the investment income of its endowment fund, foundation chairman Bob Lloyd said Monday.

"Donated money will not go to pay for administration and overhead," Lloyd said. "It will go to research, so that we can find cures for cancers. This is an extremely rewarding ...

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